Fri, Jul 03, 2009
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Anthony Minnuto |
doesitmatter
24 Posts
Member Since: 06/01/2007
Bellevue, WA
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Posted: 14:06 on 06-01-2007
Has anyone attended this seminar? He claims you can buy a 50 unit apartment building with no money down? Anyone know what he's talking about? Is this a lease option or something? Other than seller financing, I can't imagine there's a way to buy a property like that with no money, especially if want rent growth and appreciation. I own lots of 20-40 unit buildings and have never bought any of them without putting at least 20% down, usually more. Anyone know what he's talking about???
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kelvin_REI
41 Posts
Member Since: 05/16/2007
Redondo Beach, CA
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Posted: 16:30 on 06-01-2007
most likely none of HIS own money down... so "no money downs" are done everyday under that context!
-Kelvin
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richnathan
59 Posts
Member Since: 06/28/2005
Salt Lake City, UT
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Posted: 18:13 on 07-10-2007
Kelvin is right.
No money down means "none of your personal $$ down" You have probably done the most common no $$ down several times. With is leveraging collateral on another property, using that cash as your new down payment.
OR sometimes they will teach you to take distressed properties subjest to.
Thats my guess. So are most of your properties in your home state?
Nathan
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doesitmatter
24 Posts
Member Since: 06/01/2007
Bellevue, WA
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Posted: 14:32 on 07-14-2007
Yeah, most of them are in Washington, but I've been picking up a few packages in the east/southeast.
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