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#68431 - 06/28/05 03:19 AM Foreclosures and No Money Down
muya12 Offline
Junior Member

Registered: 06/21/05
Posts: 3
Loc: New Jersey
How do foreclosures tie in with no money down. What's the scope for combining these two approaches to real estate investing?
Have any of you tried to combine them and what were your experiences? I imagine investing in foreclosures is associatied with flipping the property for a quick gain. "No Money Down" would involve holding onto the property for a time (a few months at least)as it involves Lease-Purchase contracts.
It would be amazing if you could combine them though, as your returns would be astronomical.
Any thoughts?

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#68432 - 06/28/05 12:46 PM Re: Foreclosures and No Money Down
Realty Check Offline
Major Contributor

Registered: 09/19/03
Posts: 2410
Loc: Panama City FL
Foreclosure refers to several different stages of an extended process. During several of these stages certain forms of No Money Down can effectively be used.

Don't confuse No Money Down... with No Money Needed.... with any No Money Down... You will frequently have very high out of pocket cost, such as: cost to reinstate, cost to make repairs, Due diligence costs, cost to market property and closing cost and many other cost that are skimmed over by the TV infomercials.

In each of the stages of foreclosure, different techniques work best and only cash works best at several. Lease-Purchase is becoming one of the least desirable methods overall.

Nothing is free... you must understand the full process or you will pay far more than you ever anticipated. Risk vary and payoffs for risk are generally greater than no risk situations. You, however can not expect to beat all risk all the time even when you are extremely knowledgeable in the processes. These are not for the late night TV watchers.

Never think of investments in real estate as being a Get Rich Quick activity... if you do... you will be in well over your head.

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#68433 - 09/29/05 07:44 AM Re: Foreclosures and No Money Down
FrankP Offline
Member

Registered: 09/29/05
Posts: 11
Loc: Florida
Use this idea and you will buy as many no money down preforeclosures that you can handle.

www.RescueTrust.com

They pay referrals while you learn to do it your self

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#68434 - 09/29/05 08:27 AM Re: Foreclosures and No Money Down
muya12 Offline
Junior Member

Registered: 06/21/05
Posts: 3
Loc: New Jersey
Thanks. Looks good.

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