Posted by James Strange on August 08, 2003 at 10:10:26:
Even with No Money Down you still have closing cost. These vary greatly depending upon location, time of the year, and title/closing fees.
No Money Down Financing - Posted by Michel Hachem
Posted by Michel Hachem on July 29, 2003 at 15:38:55:
What are the PROs and CONs for a “No Money Down” financing option offered by a Bank-Lender. Can you please tell me all the advantages and disadvantages of this type of financing because I want to start investing in real estate for the first time. I don’t know too much about this type of investments and it seems like it’s a positive thing to do to get into this business. Can you elaborate in plain language.
Thanks
Re: No Money Down Financing - Posted by David
Posted by David on July 31, 2003 at 10:02:25:
There are other ways to do no money down without those high rates. You can have the seller put the property into a landtrust. Bring you onto the trust and then this will allow you to do a refinance instead of the purchase. You refinance, cash his beneficial interest out and you now have the property no money down. We by 5 to 6 properties a month this way. There are many ways to use a landtrust to your advantage. If you need help with landtrust let me know. realtordrk@hotmail.com
Re: No Money Down Financing - Posted by James Strange
Posted by James Strange on July 29, 2003 at 19:50:36:
Pro you get in for a small amount of cash.
Con the rate is high.
Re: No Money Down Financing - Posted by dewin
Posted by dewin on August 02, 2003 at 12:57:35:
in a landtrust, do you get title of the property or the original owner keeps it, and why he do something like that?
Re: No Money Down Financing - Posted by Michel Hachem
Posted by Michel Hachem on August 08, 2003 at 10:00:45:
How small a cash amount you are talking about.