Comments on: No Money Down Real Estate Investing: Is It Really Possible?

By: Blake Ratcliff

Blake Ratcliff — Sat, 10 Apr 2010 12:09:58 +0000

The other question investors should ask is that on a given deal is it even wise to consider no money down. After all terms are everything. You wouldn't want you free money to turn out to be a lost asset to you because the terms can't be supported.

By: Tony@High dividend stocks

Tony@High dividend stocks — Mon, 08 Dec 2008 23:21:41 +0000

Great post and some good links on no money down investing. I still think you should always have some money before investing in any property set aside in case you need it fast. You never know what might come up and needs to be fixed.

By: Scott Roemermann

Scott Roemermann — Thu, 25 Sep 2008 08:03:05 +0000

Yeah, great additional comments there Patrick. Very good point. Thanks.

"No money down" is one possible tool when you consider the financing of a deal. You should conduct a financial analysis considering different financing alternatives and if you NEED it to be a "no money down" deal you may want to consider leaving it alone.

By: Patrick Riddle

Patrick Riddle — Thu, 25 Sep 2008 01:53:59 +0000

One thing I always like to tell beginning investors when discussing "no money down" deals is that just because a deal is "no money down" doesn't make it a good deal.

Determine your buying criteria and stick to it. The last thing you ever want is to take on a seller's problem because you think since you can get into it for little to nothing down, that is makes sense to do.

By: Scott Roemermann

Scott Roemermann — Sun, 03 Feb 2008 22:15:07 +0000

Telly, maybe I should do a blog post on this topic for you but in the meantime I can tell you, yes, I was extremely nervous. I was a relatively young 26 year old which surely contributed to it but I'm sure that buying your first house has enough uncertainty to make the average person pretty anxious. Was it easy? Yes and no. Nothing about the transaction or the process afterwards is particularly difficult. For me the hard part was simply making the decision to do that first deal. How did I do it? I spent in excess of $6,000 going to a real estate investing bootcamp which I think is more than I'd spent on any other single purchase in my life at that point. That motivated me! REALLY motivated me. I needed to make that money and some so I bought my first house within 2 weeks of that bootcamp and decided to figure it out as I went. The biggest hurdle I had with that deal was trying to find a tenant. It sat vacant for a few weeks before I decided to hire a management company. I still had little idea what I was doing but as I had "planned" I figured it out as I went along. And I encourage others to do much the same. Don't be stupid about it, but find the courage, believe in your ability to solve issues as they arise and do that first deal. The one proviso I'd add relates to my comment about not being stupid. DO YOUR NUMBERS. Make sure you invest based on a solid analysis rather than just going and buying a property on gut feel or bad numbers. If you don't know how to do an analysis, start with a spreadsheet of all your expected income and expenses and start figuring it out and always include some margin for error.

By: Telly Westerman

Telly Westerman — Sat, 02 Feb 2008 22:37:28 +0000

My name is Telly and I am curious about your first time buying a home. Was it easy? Were you nervous? And how did you do it?

By: Scott Roemermann

Scott Roemermann — Tue, 22 Jan 2008 22:38:09 +0000

Mari, No I've never seen Mike speak but if he's the Tony Robbins of real estate it is surely an experience.

By: Mari Smith

Mari Smith — Tue, 22 Jan 2008 20:32:18 +0000

Hi Scott – I just came across your blog via Twitter… I'm currently in a Mike Watson Institute seminar – are you familiar with him? He's fairly "out there" in his techniques! And he's like the Tony Robbins of real estate. lol