FSBO - How do I propose a No $ Down Deal?

I am a 1st time investor. I have lots to learn, yet I'm motivated enough to get the job done. I need to know how can I obtain the funding I need in order to make an offer to the seller? I have a credit score of 609; single parent, unemployed (will be working next month); but willing to "go the distance" to obtain the necessary financing (w/o going to the bank, etc..) so I can "flip" the property for a profit. Does No $ Down deals really work? confused confused

Comments(1)

  • rajwarrior23rd May, 2003

    No money down deals are not really no money down deals. It means that there is no money coming out of your pocket. These really should be called OPM deals, or Other People's Money.

    The money has to come from somewhere. Only an extremely motivated seller would take a true no money down deal.

    A great method for reducing the amount of money needed is to show the sellers that they don't have as much equity as the thought. Search the articles for Bill Young's Financial Judo articles for ways to do this.

    Roger

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