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How to Buy Real Estate With No Money Down - 5 Simple Strategies

April 03, 2012 | Comments: 0 | Views: 69

Have you ever found yourself presented with a great opportunity to buy a property, but lack the funding? If I only knew how to buy real estate with no money down, I could have made a great deal. Well it is possible to purchase property with no money down. Here are a few no money and no credit strategies to help you in acquiring some deals.

Double closing - This is where the investor will buy and sell a property at the same time. The title is normally held in escrow to allow the investor to use buyer's money to pay seller.

Buying Subject To - Simply take over someone else's existing financing, that is already in place. This is works well because there is no qualifying for the buyer, and the loan is not formally assumed. Buying a property subject to existing terms, can be a fast and easy way to pick up instant cash flow.

Borrow Hard Money - You can expect to pay a little more for the money, but the loan is based on the equity in the property, and not reliant upon your credit worthiness. Hard money can be great for flipping homes, but be sure to do your homework, both on the lender and the property you plan to purchase.

Assign a contract or Finders fees - This is where you sign a contract to purchase, and then sell the contract to an end buyer for a fee. This strategy works well because it takes very little money to perform. Building a buyers list first is the best way to work this strategy. As you learn this strategy, you will find that there are many great deals for sale, so if you are going to sell these contracts, you need to have plenty of buyers lined up to take them off your hands.

Seller Subordination - This is where hard money is borrowed in conjunction with a subordinate, seller held second loan in order to provide the seller with a lump sum of cash at closing. Basically you are borrowing a portion of the purchase price, and financing the remainder of purchase price with seller. This will leave you with to notes to pay. One to be paid to hard money lender, and one to be paid to the seller who is carrying the rest of balance on a separate note.

These are just a few strategies that can help you purchase real estate with no money down. When you are first getting started, cash and credit can be a problem, but it can easily be worked around implementing creative techniques such as the ones above.

When it comes to success in real estate investing, you have to be willing to think creatively. Becoming a creative thinker will give many ideas how to buy real estate with no money down. When it comes to investing in real estate it is a great idea to find a mentor that can help show you the way. If you are looking to take your business to the next level, or just get it off the ground, you may want to consider a Real Estate Coaching program.

Source: EzineArticles
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