40% of Homeowners Purchased With No Money Down in 2005! Why Not You?

I was reading an article in the Los Angeles Times where they stated 4 out of 10 Homebuyers used No Money to put as down payment.


Imagine, getting into a house with Zero Money Down.
And if you structure it, you can even walk away with some cash at closing.
But that's another topic and we'll address on a future Podcast or Article.

The truth of the matter is that you don't need to pay hundreds of dollars for Real Estate Seminars or training courses to buy a home with No Down.

I've bought and sold dozens and dozens of homes with no money of my own.

Please understand that your ROI (Return on Investment) is incredibly higher when you don't actually put a down payment. However, your payments are also higher. So keep that in mind when you purchase a house.

Here are 7 methods of getting into a house with no down payment money.

1- Get a 100% Financing from the Mortgage Banker

2- Get an 80% loan from the Banker and ask the Seller to carry the 20%

3- Ask the Seller to carry %80 and get a Hard Money Loan or a Personal Loan for the remaining 20%.

4- Do an All Inclusive Trust Deed (Wrap) and refinance the property once in your name. The proceeds will then be used to pay the seller.

5- Find a house with an assumable FHA loan and assume it.
For example, there are hundreds of realestate for sale in Northern California that meet this exact criterea.

6- Find a house in foreclosure and where the sellers are walking away, have them transfer the title in consideration for a sum to be paid in the future IF you were able to save and sell the property. Then contact the lienholder and ask for a workout or an extension. Sometimes this will work especially if they know you are listing the property for sale immediately.

(There are some free foreclosure lists you can search for on the internet)

7- Find an investor where they'll put up the money and you'll be the bird-dog.
(You find the house - He'll put up all the money - You split the profits when you sell)

Here you go.
7 ways to get you started in buying a home with no money down.

I'll be doing future articles and audio seminars (podcasts) on actually implementing these techniques and also on methods of finding the property.

Make sure to educate yourself on the local County and State laws as well as find some free Realestate sales forms online to use when you make your offers.

Best of luck and happy hunting.