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TOPIC: Re: no down payment
#1477
elm79 ()
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Re: no down payment 5 Years, 8 Months ago Karma: 0  
Hi Ann, Murph from Texas here. You have the explanation on the no money down...what I was going to suggest is, instead of getting a loan to buy the rental property, make the purchases using the creative techniques. Since you have good credit, get lines of credit at 2 or 3 Banks...this can be used for you down pymts, light rehabbing and other things, hence OPM again...open the LOC for as much as they'll allow. You'll only pay interest on what you use...as soon as you sell a property or refinance, you put the money back. Just an idea. Happy Investing!!

Murph
 
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#1478
Rico ()
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Re: no down payment 5 Years, 2 Months ago Karma: 0  
This is a great forum with a lot of great advice. Someone like myself who has no RE knowledge, I am thankful for the seasoned vets in the games advice on how to do and what not to do's. I have been having trouble buying or rent to owning a house even with a down ppayment. I haven;t tried the owner finance thing yet but will. Is there any way to get around the bad credit issue with a down payment ?
 
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