Is No Down Pmt only true for certain conditions? - Posted by Pawel

Posted by JohnBoy on March 11, 2001 at 10:52:57:

If you take the TIME to read the posts here you would have read about many deals that were done with no money down. You can do this on just about anything you want buy…it doesn’t just apply to real estate alone.

I’ve done this buying homes, land, businesses, cars, and just about everything elses I own. I’ve even posted about a couple just a few posts down.

If you go to the top of this page and click on “search archives” and type in JohnBoy you will get a list of posts I made on this board that gives examples of some deals I did.

If you go to the commercial real estate newsgroup and click on “search archives” and type in my name, you will find some posts on the businesses I bought with no money down. The link to get to the commercial board is at the top of this page on the left hand side.

If you click on the link “Success Stories” located at the top on the left hand side, you will get over 135 success stories that were sent in to this newsgroup from people that have done no money down deals. All those stories are REAL from REAL PEOPLE that have went out and just DID IT!

I’ve been on these boards now for over 4 years and most of those people in the success stories were new to this site just as you are right now and as a result of finding this site…they read everything here and went out and made it happen!

Is No Down Pmt only true for certain conditions? - Posted by Pawel

Posted by Pawel on March 11, 2001 at 10:34:32:

The entire idea of getting a property with “No Down Pmt” is a bit “too good to be true”, and getting an example from whom has been there and done that with a positive experience would be extremely encouraging.

Would it possible that someone could share some of their experiences (briefly), which explain how they got started and were able to find property that they were able to finance in such a way.

Does the property need to be in a certain $ value or can anyone with a great credit be able to purchase a piece of property that is new or old, less or more than $100,000.

I am considering real estate investing as a great opportunity for any person (regardless on educational background). Real estate is in deed the most stable investment that any person can have; although the idea of getting a piece of real estate with no money down is something that I need to understand before I can start (and I understand, the sooner the better).

Anyhow, any input is much appreciated. Thanks for your help ahead of time!

Re: Is No Down Pmt - Posted by Mark (SDCA)

Posted by Mark (SDCA) on March 13, 2001 at 11:05:08:

Let me just clarify a point JohnBoy made. Anyone can buy SOME property NMD but noone can buy EVERY property NMD.
So just get out there and start making offers. Then KEEP making offers.



Re: No Money Down - Posted by Gary

Posted by Gary on March 12, 2001 at 15:08:10:

I think sometimes the problem is that people think no money down means that you really didn’t put money into a real estate purchase. In reality, you often do put money down, the difference is that it is not your money! For example, I bought a condo for 39.5k and put 4k down. But the 4k came from my low interest credit card (11%). The credit card payment plus the first mortgage and all expenses still give me a positive cash flow of nearly $200. Today, that condo is worth 50k and I will be refinancing it soon to pay off the small credit card balance left plus put cash in my pocket.