Investing with no money down — the Realities
If it were easy-everyone would be investing in Real Estate
All over the Internet there are people telling you that you don’t need money to invest in real estate. “No Money Down” or “purchase investment property for $10,000 and have a cash flow of $700/month” are common promises. I hate to do this, but I am going to bring you back to reality.
Read Also: If it seems too good to be true….
But there is something you need to understand: You DO need money to invest in real estate.
With that said it doesn’t have to be your money. There are plenty of places to find funds… partners, investment groups, family, friends, your house, your retirement savings and other private money sources.
At the end of the day, every real estate deal requires some cash. Even if you do a no money down deal that doesn’t require a cent for a down payment you will still need cash for things like appraisals, inspections and lawyers. Is this a good investment property? I hear that many times. Think about it. How many times have you seen a run down vacant property in Western New York and thought that would be a good investment? But if you never have invested before how does one know?
And, almost every property needs a bit of love when you buy it. Even a simple coat of paint requires some cash.
For more information call Colleen Kulikowski
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