Can you really purchase real estate with no money down?
927314
The people who bought my house did this several years ago. We were asking 62k. That would have required something like 5k-6k down plus closing costs. They had the paperwork drawn up for a 69k+ selling price, with the buyer (me) putting down the down payment and all closing costs. (The money came out of the final check to me.) I got my 62k, they got their house, and financed it at 69k.
670725
There are lots of ways to buy a home with little or no downpayment.  Talk to a lender about 100% financing.  There are FHA programs where you only need 3% down and they have a great rate.  Your REALTOR can also write your purchase contract so that the Seller of the home will pay some or all of your closing costs which means even less money our of your pocket.  Good Luck!
145291
I suggest reading "Are You Missing The Real Estate Boom?" by Davie Lereah\n\nReal Estate prices can't go to zero, unless there was a reason for people to flee that area or the interest rates shot up suddenly and much higher than what we could imagine, whatever the size of that area. It's not likely that interest rates will shoot up quickly. So ask yourself if the people of the area you are thinking about have a reason to leave the area suddenly.\n\nIf they don't, then there will likely be no real estate bubble in that area. \n\nReal Estate is not a short term investment and it's not as liquid as stocks. Stocks can go to zero but it's EXTREMELY difficult for real estate to go to zero.\n\nThe real estate bubble scare has been brought upon by stock brokerages and/or the media since they are tied together or invest in each other. Don't buy into it.\n\nReal Estate is a finite commodity. However, stock shares can be split forever it seems. Also real estate is unique, even if it's in the same complex, if a condo. Is each share of the same stock unique? No! \n\nSo in my opinion, yes real estate can drop by 10%, 15% or 20% but I wouldn't call it a bubble. The price will likely come back up in time, unless the area has been cursed forever. For less risk, buy in an area that's got potential, is near good schools, near shops, near transportation, has a good real estate history and near jobs.\n\nMy strongest suggestion if you are serious in buying is to speak to a good Realtor, (go to http://www.ReferredPro.com) to be referred to one, who can give you some guidance, especially since they work with lots of people in your shoes who are thinking the same thing and lots of others who are making money in real estate. Warning: friends don't necessarily give the best advice, even when they think they are.
41577
As little as possible is often the most popular idea. However, it is wise to put down enough to make sure the property income will service the debt payments and taxes. You don't want to be paying out of pocket evey month unless you really need the loss for tax purposes. \n\nMost banks or savings and loans will require between 20 and 30 percent down payment in the US. The lenders are looking for the property to break-even or have some positive cash flow based on their projections income and expenses. The appraiser is often asked to make these estimates. However, I have purchased investment property with nothing but closing costs out of pocket using hard money lenders. I've even borrowed more than the purchase price when the appraised value was much higher than the purchase price. I have also run across some credit unions that loaned 100% for borrowers who had a good track record with the credit union. It's all in the deal.
1045060
This sounds like time-shares. Personally I would never buy property in a foreign country let alone with a group of people.  Unless you have money to throw away. Remember, if it sounds too good to be true, most likely it is. And if living cheaply is what you're looking for, there are many places right here in the good USA where you can do that. Or if living in a third-world country is appealing to you, that too we offer---Try Mississippi, Alabama,  Oklahoma, New Mexico, Los Angeles and New york city.
905739
You cannot buy an apartment unit, only the entire building.  You can, however, buy a condo, townhome, co-op, duplex, tri-plex, quad-plex, etc.  You should contact a Realtor to help you search for a place.  If you qualify, you should be able to get a loan that is 100% financed, meaning you will not have to put money down, but will still have to pay closing cost, unless you get the seller to pay some or all of them for you or you finance them by adding them to the sales price of the property.
923890
There are a lot of scammers out there, so-called real estate gurus who will sell you a program outlining how to buy and sell real estate using absolutely no money, but those schemes are unrealistic, almost impossible, and illegal in many states.\n\nDepending on your credit and income, you can qualify for a no down payment loan for an investment property and the seller can contribute up to 2% of the sales price towards your closing costs. So you would need some cash for closing, depending on the sales price.\n\nRick\nwww.fairwaymortgagelending.com
410401
I don't have the program, but consider this.  Do you really think you can buy a house for nothing down?  Yes it can be done, but everything has to be in place.  The right time, the right market, the right financing, etc..\nDon't waste your money.  Look at lease options instead.  Yes you do have to put money down, but not as much.  Also make sure that the contract can be assigned.  That is sold to someone else.
569358
If it seems to good to be true then where's the catch?  I have owned apartment buildings before, and if you are around long enough you get to know people in the banking business.  At one point I got to know the vice-president in charge of real estate at Hudson City Savings Bank in New Jersey. I had already been a party to one transaction with the bank, a 29-unit half-abandoned building in Jersey City.  One day he offered me a property, and suggested I go take a look at it.  Turns out it was a massive brick apartment building, totally abandoned, sitting on on entire city block just off Bergenline Avenue in Jersey City.  As I recall it had something like 42 apartments.  He offered to sell me the building for just one dollar.\n\nI turned him down.  That is as close to 'no money down'as you can get, heck, this was no money at all, yet even at that price it was a terrible deal.  Sure, you can get these things for no money, I've been there, but you better have access to massive amounts of capital for renovation and upgrades, and I'm talking anywhere from tens of thousands to millions.  If you don't have the means to carry it and improve it, you better think twice before you get into something that can literally slay you.\n\nA lot of the real estate moguls who sold seminars on no money down deals in the late 70s and 80s ended up bankrupt, which ought to tell you something.
790075
Rarely do prices in real estate drop.  Thats why they call it an investment.  The best time to buy is when interest rates are low.
73127
You can buy a home with as little as $500. Negotiate with the seller to pay closing costs. USDA, Fannie Mae and Freddie Mac all offer loans with 0% down payment. A lot will have to do with your credit. USDA allows for minor credit problems. Talk to your friends and co-workers to find a referral for a good lender. If you want to buy in Ohio, I can be your lender. :-)
995600
Try www.prosper.com if you really want to borrow some money and a bank won't lend it to you.  However, if you are struggling just renting, it's unlikely you'd be able to make higher payments.  Try saving just a little bit of money - like 50$ a month in an account for a down payment.  Once you make it automatic, most people find they are able to do this and are able to move it up slowly.  Then you can check into first-time home buyers programs in your state, which can help you get a loan with as little as 3% down payment.  Check out the department of housing and urban developments info: http://www.hud.gov/buying/index.cfm
396203
go here there are lots of loan programs that may help you http://www.allsolutionsnetwork.com/cgi-bin/d.cgi/CB9051/no_down_loans.htm
1180108
Yes you can.  I guess you've read Rich Dad Poor Dad.  Great but he doesn't tell you HOW.  It is something I have been trying to figure out for years.  I got the answer a few months ago by my brother showing me.  It is amazingly simple.  All It takes is confidence and thinking big and clarity of mind.  The more you try to figure it the more pieces fall into place.\n\nSo I guess you want to know how?  Ok I will tell you - I'll email my bank account number to you and when you make your first million which you can do within a year - you deposit me 20%, ok?\nlol - only joking - happy to help out.  Ask youreself what you will do with al the $$ though.  If you don't have a goal for the $$ it will end up destroying you when you have lots.  Just a bit of philosophy - take it to heart because you will have plenty $$.  \n\nTake this 'formula' or principle and apply it to whatever is available, it is flexible.  Apply your mind.\nOk here goes:\n\nRemember confidence and think big.\n\nFind a large property in a good area of your city/town that is for sale.  The suburbs is a good place to start, find out from real estate agents which is the fastest growing area.  Go to the dge of that where serious development hasn't started yet.  A few miles is fine, the expansion will catch you.  Once you have found a suitable site, look around and don't be disheartened if the first few are not spot on.  You will be gaining experience with each site you look at.  The site should be large enough to subdivide into smaller erven (erfs) (plots). There will be minimum size zoning allowed in specific areas.\n\nI am assuming here that you know a bit about the property development lingo (of your country).  If not do a bit of research by visiting your local (authority) municipality.\n\nOnce you have found a suitable site that can be subdivided say into 10 plots.  Heres the crux!\nLet's say the seller wants 1mill (theoretical amounts - whatever is going in your area and currency counts) for the property go to him and tell him you will give them 1.5mill if they go into a joint venture with you.  They will.  Then what you do is get the plans for the property from your local authority.  Divide the property up into plots, use a landscape architect if neccessary, or do it youreslf.  Get this development approved by your local authority.  Again you will gain experience as you go.   Once the plans have been approved for rezoning to residential size plots.  This may take some time (find out names at the local authority and hound them, it will move faster) Then what you do is put the plots onto the market at residential prices (per square meter).  Exorbitantly more than the original large piece of ground.  As this is an expanding area they will be sold loke quickly.  You give the original seller his 1.5mill and pocket the difference.  Usually a hell of a lot of money.\n\nAs simple as that.  Hardly cost you a cent.  You used someone elses money and walked away with the finances to do the next project youreself.\n\nWhere you might have to put in money is for the drawing up of the plans, advertising and if you do a cluster dvelopment you should put a wall around the site (expensive) to sell it a concept (helps sell quicker and for more).  For these costs you go to your bank and borrow the money using the large property as collateral. Remember the original seller and you are ina joint venture so you can do this (set up a cc if neccessary).  \n\nThat is the jist of it.   It is actually so simple.  This is a general plan, it can be applied to many situations.  It is a pretty hectic concept to try to get across in so many words.  If I have left anything out apply your mind and fill in the gaps.\n\nGo for it, believe in yourself and the world is yours.\nGood luck.
817193
Property sales are down everyplace, but prices are up in some areas even though sales are down. I think this a buyers market. Buy low and sell when it turns around in five to ten. In general I think this always works.
6804
You should not buy a home if you can't really afford it, obviously; but also, even if you can, most people should not buy a home in a bubble market.\n\nSee the site linked below for a more thorough explanation.
978053
it may be zero down payment from you, but you need to obtain financing for the mortgage of the house.  I would check with your bank to see if you would qualify for the loan.