I'm not seeing the relationship between Buying with a 0% DP and your 70% LTV.

Where's the 30% Down Payment come from?

I think they are referring to a "Hard Money Lender" at 65 ARV value.

GOOD LUCK in finding that in this market.The HML's hit you up for so many points it is better to find a silent cash partner.

I started my real estate investing over seven years ago and said heck with it dropped everything and went full time right out of the gate, my wife did the same with me. I had bad credit and not much money, I am talking around 5 grand. Now here i am, almost eight years later, now I did step back and take a break for about two years. But i am back and better than ever. My point is regardless of what everyone else said or still say's I have never to this day put one penny down on any deal we have done. I have closed on houses for 16K all the way to 500K. I have never used a hard money lender now I have used private money from time to time. I have never used a partner and I doubt I ever will.

The thing to keep in mind when asking can I close no money down is, who are you asking? The one thing I have found out through it all is everyone's understanding of no money down is different. Two of the most profitable ways is subject to, and assignments in my opinion. Now a lot of people will tell you it does not work like it used to, I disagree. I still have great success with this even with the seasoning issues many experienced until recently. Do your homework know the property, if you present it right you will see results. And not every property has to high of a payment to do this. i have gotten them with interest rates in the 5's. Now let's just say the property was in default or the owner had a high interest rate, even these have potential. I have modified these loans and made them a deal. I will tell you it does not just fall in your lap, you will have to be on your toes and not give up. If i can be any help let me know.

2ndtimearound

I hear that robert allen's book teach this strategi. The title is Nothing Down. That is popular book.

The bottom line is if someone is selling at a 70 LTV with that much equity in the property you will have a cash investor within 24hrs of listing it.

If you are a buyer going after a hot deal and you need the seller to do A,B,C to buy no money down then you have NO LEVERAGE.A cash buyer at that point is a cleaner deal. AS-IS,no appraisal,no junk points,loan fees,asking for repairs,asking for the seller to take back a second they will be stuck with and can't sell on the open market.Assignments ? Unless that no money down junk buyer is putting down NON-REFUNDABLE earnest money there will be no assignment allowed. If you have a qualified buyer you won't know the quality of the buyer they are trying to assign the contract to.

So in short if you want to do a creative deal look to pay more money and if you have cash you can drive a much lower price.

Normally it's not low enough to justify the risk IMO. In all my years in real estate I've only seen one deal that was anywhere near 70% of its as-is value. Not much of a surprise then that I didn't get into wholesaling

What kind of deals are you doing in this market now that it has changed the past few years?

Nothing different I'm still doing lease options.

I would not suggest that you get into real estate without funds available to you. There are so many unexpected things that can happen such as vacancy and repairs. You could find yourself underwater very quickly.

I think you need to look into wholesaling(flipping houses). You will Find your Answers during your research on youtube.com and google trust me! Just remember not to believe the hype. We all fall into this business thinking about how easy it is to get rich, Yeah it's very possible but like anything else it takes work and dedication.

True. I bought my primary home with no money down back in the good old days. I rolled in all the closing cost and I think I used the 80/20 approach with 80% being interest only and the 20% a HELOC(home equity line of credit). I even had enough to build a screened in back porch, but I think those days are over. Thank goodness I refinanced to a fixed before the crisis hit. Nowadays, I purchase zero down from private lenders (tired landlords willing to owner finance). I have a page written about how I got to that point. See...

http://www.beginreal-estateinvesting.com/zero-down-real-estate-investing.html

Zero down financing is back in the Twin Cities for first time home buyers.

Program highlights:
Conventional 100% financing
680 minimum credit score
45% Debt-To-Income ratio or less
NO Mortgage insurance needed
Up to 3% in seller paids allowed
Income limits of $84,000 a year for a family of 1-4 people

Well with the qualifications that banks have now its almost impossible to do a zero down. They want you to have some equity in the house so you don't just walk away. You may be able to do something with a privet investor.

there are more problems and issues with rental properties in the long run, because of the people you rent the property to and you take on the landlord responsibilities and so much more. it does depend on what kind of rental property, but i suppose it is better to avoid rental properties

Its not a myth...No money down doesn't necessarily mean no money is involved in the transaction. I've purchased homes with "No Money Down". I purchased a house and borrowed the money from a hard-money lender, I partnered on the deal with a contractor who agreed to do the repairs. Then I sold the house, paid the loan and split the $40K profit with the contractor that I partnered with. This deal was done this year. I did not put any of my money down on this deal except when I marketed the home to sell it.

People see the infomercials and assume no money down means no money is involved when all it means is creative ways to finance deals or partner on deals so no money is coming out of your pocket. There are a ton of ways to do "no money down" deals even in this market.