No Money Down Rentals

You have come to the right area. My partner Jeremy and I buy cash flowing properties, also known as buy and hold. We use many different strategies, most of all we tailor them to fit the particular deal.
We look for older sellers, who have probably paid off their homes and are looking for an income other than their renters. I explain to them by holding the mortgage or taking a second mortgage on the prop is a better investment than the banks are paying now (2 to 3%)
Most of our deals are 5 year owner financed with a balloon at the end. In 5 years the market will change 5 times so you have a chance to bank some money and start thinking about how you want to pay off the seller

It is important here to say that you can't come on to these people like a shark. They will shut you right down. Talk about the house and the history it holds for them raising their children etc. You must be sincere and honest with them. Hell, tell them that you are a new investor and this is your first deal, they will like that.
Look for a $$ partner and offer 50% of the deal to them for putting up the down money if that is where the deal is going. Meaning you have the seller convinced to hold for 5 years but they need a down payment to show you are the real McCoy and not a scam artist. Try these 2 strategies on for a deal or two and keep me in the loop. Remember be yourself and don't get pushy. You are building residual income here and it will add up. Good luck...Jan

Advertise on craigs list for an eqity partner. You might or might not have to give up some % in the deal, but you are in the deal making money.
If the prop needs work, look for a contractor and offer a deal on fixing the prop for a piece of the pie...Jan

Ive use a startegy that has work for me alot for apt Buildings...
I would have the selley carry a second ( down payment ) and i would use a conventional lender or HML/PML to finance the first.. That would be no money down deal the property must cashflow and you must run your numbers after all your debt service

Ive use a startegy that has work for me alot for apt Buildings...
I would have the selley carry a second ( down payment ) and i would use a conventional lender or HML/PML to finance the first.. That would be no money down deal the property must cashflow and you must run your numbers after all your debt service

Thanks guys on all of the info...i do have a private lander willing to finance 100%, but its a one-year ballon...normally i would just think to find a bank that doesnt require seasoning and just refi and pay my lender and hopefully have some extra $, but i dont know if an 80% refi in a year would cover the $145,000 asking price. having the seller carry a second might work. I know the guy bout it 3 years ago and wants to sell it to get out of town so he is motivated.