I'm looking into real estate investment, particularly rental properties. Is there anything called "No down payment option"?

Asked by Isaac A, Thornwood, NY Sun Jul 21, 2013

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11
Javier Menes…, Mortgage Broker Or Lender, Melville, NY
Sun Jul 21, 2013
BEST ANSWER
First step is to meet with a Loan Officer. I'm always available to meet if you need a reliable Loan Officer to help you.

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
1 vote
Javier Menes…, Mortgage Broker Or Lender, Melville, NY
Sun Jul 21, 2013
Isaac, there is no way you're getting an investment property mortgage with anything less than 15% downpayment. Some lenders will allow 15% if they have a mortgage insurance company who will insure it, the rest will need at least 20% on an investment property mortgage.

Consider meeting with a Loan Officer and see what your options are for financing a investment property. But if you don't have 15-20% available, you might want to wait until you have enough saved up. Good luck!

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
1 vote
Simon Simant…, Agent, New York, NY
Sun Jul 21, 2013
Why should you be any different from all the smart one ?
Keep looking I am sure you will find
1 vote
Tom Dawson, Agent, New York, NY
Sun Jul 21, 2013
Call Robert Allen or one of the many RE gurus who have been promoting this idea to the masses for the last 20 years or more!
1 vote
Elisa Dewees, Agent, Cherry Hill, NJ
Sun Jul 21, 2013
Investment purchasing typically requires at least 30% down.
1 vote
Ron Thomas, Agent, Fresno, CA
Sun Jul 21, 2013
So, along with No money invested,
I'll bet you want a Positive Cash Flow, correct?
Keep trying!
1 vote
Ron,

Yes I want a positive cash flow.
Flag Mon Jul 22, 2013
Isaac A, , Thornwood, NY
Mon Jul 22, 2013
I am looking into a Realtor
who specialize in beginner rental properties???
0 votes
Mack McCoy, Agent, Seattle, WA
Sun Jul 21, 2013
So, Isaac - if you're going with a "no down payment option," what is it that you're actually planning to invest?
0 votes
George Stroud, Both Buyer And Seller, New York
Sun Jul 21, 2013
Generally speaking, the rare instance when investors come across No Money Down/Payment option is when you're flipping houses and doing a same-day double closing.

From experience, rental properties really call for a minimum down payment of 10% if you're dealing with a real estate wholesaler.

We specialize in working with investors. Feel free to give us a call at 914-595-2634 or visit our web site.

George Stroud

Westchester Real Estate Services
http://www.westchesterres.com
Web Reference:  http://westchesterres.com/
0 votes
Isaac A, , Thornwood, NY
Sun Jul 21, 2013
Real Estate Rental Property in New York: Where do I start from, Any advice?
0 votes
Ruth and Per…, Agent, Los Gatos, CA
Sun Jul 21, 2013
Hi Issac

Get a SBA loan or buy it using other collatal.

Good luck.

Perry
Web Reference:  http://ruthandperry.com
0 votes
Ruth, Teach me?
Flag Sun Jul 21, 2013
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