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Jul
How do you buy a house with no money down,and then rent it out for a profit?
Posted by: admin / Category: no money downI wanted to know how to invest in buying real estate with no money down and still make money?
While there are lenders that will do 100% loans, they will NOT do them for non-owner occupied properties.
You have to take into consideration, the rent not only has to cover your mortgage, but the taxes and insurance as well. It’s doubtful you could raise the rent enough to do that and make a profit AND still find someone willing to pay that much.
July 17th, 2010 at 9:02 pm
Go to the site http://www.nomoneydown.com
you may have to pay a little,but they are supposed to have all of the secrets.
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July 17th, 2010 at 9:24 pm
This is very difficult to do.
Typically, you have to purchase in a depressed area. Take on a huge mortgage then accept a risky renter. Remember then rent needs to cover your mortgage, PMI, Insurance, taxes, Utilities, and maintenance.
Try to find a property where the seller is willing to finance.
If this was easy everyone would do it.
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July 17th, 2010 at 10:04 pm
If you could do that, your renter could too.
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July 17th, 2010 at 10:22 pm
You can’t. Why would anybody rent a house for more money then it would cost them to buy it themselves?
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July 17th, 2010 at 10:58 pm
While there are lenders that will do 100% loans, they will NOT do them for non-owner occupied properties.
You have to take into consideration, the rent not only has to cover your mortgage, but the taxes and insurance as well. It’s doubtful you could raise the rent enough to do that and make a profit AND still find someone willing to pay that much.
References :