Copy of Can I buy real estate without down payment money?
Business & Real Estate Funding Academy
I teach future real estate investors how to get unsecured capital to buy real estate so they can retire in 1-3 years.
Yes! To be clear, you need money for a down payment but it doesn’t have to be your money.
Buying real estate without using your own money means that you are using OPM, Other People’s Money.
Many books have been written on this topic including the classic No Money Down by Robert Allen and the more recent Wealth Without Cash by Pace Morby.? The techniques generally rely on seller financing, subto financing or money from private lenders. The techniques are successful but they are not easy. They require finding motivated off market sellers and you must have really good negotiation skills to close the deal. Learning those skills can take a long time.?
A new strategy for using OPM has come to main street. This strategy doesn’t rely on finding off market deals or having exceptional negotiating skills. It relies on business credit cards and/or business lines of credit (BLOC) for the down payment. One advantage is that these often come with very reasonable rates for an introductory period or even 0% introductory rate for 9-18 months. Another advantage is that you can buy properties using a Realtor and their negotiating skills and knowledge of the market.?
Business credit cards and lines of credit are only offered to active business entities and only when the business owner has a good personal credit profile (both credit score and credit report). If you do not have a business entity, you can start one very quickly. If your credit profile is not strong, it can be improved. Truly, this is an approach almost everyone can put into action within a short period of time.
You could own your first investment property within 90 days and you could replace your current income with passive real estate income in 1-3 years.?
This is not a get rich quick scheme. You must invest time and energy to learn what you need to know. The surest way to reach your goal of replacing your current income with passive real estate income is to learn from a coach or mentor who will teach you and then guide you step by step to prevent common mistakes and pitfalls.?
If you are interested to learn more, I invite you to book a Free Funding Assessment Call with me using the link below. You can ask questions and we can discuss your specific situation to see if there is a fit (I don’t agree to work with everyone).