Posted by Tim on January 15, 2007 at 09:52:47:
I sell Multi-Family props and the last 2 I sold both buyers had 100% financing through a broker and negotiated me paying their closing costs. Seemed to work out.
Tim
First timer: how do I buy with no money down? - Posted by DaveKS
Posted by DaveKS on January 13, 2007 at 12:20:45:
I’m looking to get my first multi-family this summer.
Is there anyway to get the seller to pay the downpayment? or loan you the downpayment? How do you work this into your deals?
any insight would be great
thanks
-Dave
Re: First timer: how do I buy with no money down? - Posted by vince
Posted by vince on January 22, 2007 at 11:49:23:
You are referring to either a seller held second or a gift of equity.
Can you not qualify for 100%. email me with details and I will see what I can do for you.
Vince
Re: First timer: how do I buy with no money down? - Posted by Ed Garcia
Posted by Ed Garcia on January 19, 2007 at 10:54:14:
Dave,
Your post is a general hypothetical question.
It makes me go back to the basic fundamentals of deal making.
In order to get a good deal, the first thing we need is a motivated seller.
If the seller is motivated, they will be negotiable.
EVERYTHIG IS NEGOTIABLE,
Ed Garcia
Re: First timer: how do I buy with no money down? - Posted by DJ-nyc
Posted by DJ-nyc on January 17, 2007 at 15:52:25:
DaveKS,
It should’n’t be too hard these days. In nyc Developers and Investors are looking everyday for 100% finance buyers.
If they really want to “unload” the property they will even give you the downpayment if your credit is good.
Question is are you getting it as a Deal or paying Full market price? Usually the latter.
It never hurts to ask.
Good luck,
DJ-nyc