It’s a big country and you can be sure that each year someone will win the lottery, someone will be hit by lightening, and someone will buy a home at a steep discount, with predatory terms, and no money down. The odds in every case are grim.
The essential issue is NOT buying property with no money down, it is buying property that can produce a positive cash flow and/or be sold at a profit. Unless one or both of these conditions can be met, then the economics of buying a home with no-money-down are unlikely to make sense.
Those buying under the VA program can buy with no money down, and residential financing with 5% down or less is widely available, especially for first-time homebuyers. However, all of these programs require appropriate credit and income.
As in all aspects of life, be cautious with the “Get Rich Quick” approach to anything. In my opinion, real estate is best viewed as a mid to long term and low risk investment. If you are looking to get rich quick real estate investment might not be the best place to do so. If you are looking for a sound investment that will provide the positive cash flow for you give me a call anytime at 989.494.1BUY (989.494.1289) or visit my website 24 hours a day/7 days a week!
-Gotta Get Movin’
Jeff McIntyre
989.277.3510
Jeff@ForSaleByJeff.net
http://www.ForSaleByJeff.net
Check out my blog “Movin’ Shiawassee” at http://www.JeffMcIntyre.com
Follow me on Twitter! @forsalebyjeff
