10 “No Money Down” Ways to Buy Real Estate
by Richard Massey
Turn the Television on any Sunday morning and you’ll find yourself in the middle of a “how to buy real estate” infomercial. Can you really buy a house with no down payment? Can you really make thousands or millions of dollars buying real estate. Of course the answer is “yes” and “no”. The real question is, are you willing to pay anywhere from $500 to $5000 for the information, classes and hotline? Most important are you self disciplined enough to follow the program.
Before you spend money on these expensive programs, here are my top ten “no money down” ways to buy real estate. If you’re self disciplined and willing to hear the word “no” many times before you get a “yes”, then maybe you can buy a house without a down payment.
1. First is to check out the many new zero down programs now available from lenders. Especially if you’re a fist time buyer. Also FHA and VA have loans that may not be zero down, but are very close.
2. Borrow money for the down payment – Borrow the money from family, friends or a business partner at a high interest rate or a percentage of the profit when the property is sold
3. Raise the price and lower the terms – Offer the seller more than he is asking provided he is willing to accept the down payment in the form of a note. If the seller is asking $150,000 with $15,000 down and willing to carry the balance of $135,000. Try offering $155,000 in the form of a promissory not instead of cash. The seller gets a little more money for the additional risk.
4. Borrow against a life insurance policy – Many life insurance policy’s let you borrow against the policy for the purpose of investing in real estate or other investments.
5. Use other property as collateral – Create a note on existing property that you or a partner own and use it as the down payment for the property you are buying.
6. Home equity loan – Home equity loans are generally easy to qualify for as long as there is adequate equity in the property.
7. Seller refinance – Have the seller refinance the property, receiving the cash he needs from the proceeds of the new loan, the buyer gives the seller a note for the balance of the seller’s equity.
8. Find an investor – There are many people who have money but no time. Their current profession keeps them too busy. Work out a deal where they put up the money and you split the profits when you sell.
9. Lease with option to purchase – Lease a property with the right to buy it at some future time. Provide for the rental payment to be credited towards the down payment if you decide to exercise your option.
10. Give them something they need – If the seller is planning to purchase something in the future that you own or can buy, use it as a trade. This can be anything such as furniture, boat or motor home.
Richard Massey is a note broker with United Financial Resources and a real estate investor. You can get more information at http://www.unitedfinancialresources.com or to read more articles go to http://unitedfinancialresources.com/news.html
Join the Free Ez Credit Bulletin and get Free Money-Making Gifts!
At EzCreditAZ.com we can help you get credit, cash fast, a payday advance, debt relief and more. But, that's not all. Even more importantly, we want you to transform your bills into cash and start building a future where money issues will no longer be a worry! To get to that point please join our Ez Credit Bulletin. It will give you the tips, tricks and secrets you need to become wealthy and leave your debt worries behind!
Debt help and the need for some fast cash in whatever form - a payday loan, a consolidation loan, a home equity loan, or whatever - is often welcome relief. We can show you where to go to get the best deals and maybe save you some time and aggravation.
Just for joining you'll also receive some special money-making bill busting bonuses including Money Without Leaving Home and Get a Job Fast some nice ebooks.
Once you've signed up please check out the cash advance, credit repair, and loan consolidation companies we do business with. They are solid and secure and you can get paid money very quickly.
While here you'll also discover a variety of credit repair, debt help and wealth building tools and secrets that you can begin using today to push toward financial freedom.
Privacy Policy: Rest assured your email address will never be given out, rented or sold for any reason. We value your privacy. Should you ever wish to do so you can unsubscribe with one quick click in any email we send you.
Yahoo! News Search Results for credit
Yahoo! News Search Results for credit
Credit Suisse appoints Osama Abbasi as CEO Asia Pacific; Kai Nargolwala becom...
Credit Suisse today announced that Osama Abbasi has been appointed Chief Executive Officer of the Asia Pacific Region and a member of the Executive Board of Credit Suisse Group AG and Credit Suisse AG
Credit Suisse Can?t Collect From Yellowstone Founder
Credit Suisse Group AG?s ?greedy antics? bar it from collecting $229 million on a soured loan the bank arranged for the Yellowstone Club, a ski resort for millionaires, a court ruled.
Credit unions need flexibility to lend more to small businesses
Credit unions can boost small business lending to help economy if caps on lending are raised, says David Adams, CEO of the Michigan Credit Union League.
Credit Suisse `Greedy Antics' Bar It From Recouping Yellowstone Club Loan
Credit Suisse Group AG?s ?greedy antics? bar it from collecting $229 million on a soured loan the bank made to the Yellowstone Club, a ski resort for millionaires, a bankruptcy judge ruled.
Credit upgrade for Bank of Ireland
Credit rating agency Moody's has upgraded one of its ratings for Bank of Ireland.
Newsfeed display by CaRP
Home |
Resources |
Articles |
Wealth Secrets |
Big Money |
Ez Credit Bulletin |
Contact
copyright 2006 EzCreditAz.com
