Perhaps they have their own cash to put down, and will use cash or a hard money loan for the balance. Most investors look for opportunities to use Other People's Money (OPM), whether it is the bank, a private lender or hard money. Most institutions or hard money lenders will require a buyer to put anywhere from 10-30% down on the purchase of an investment property.
Here are a few more creative ideas for finding OPM. You as an investors could:
- Use plastic and your cash advance limits.
- Tap another person’s equity.
- Tap equity in real estate that you already own.
- Title to your toys as security for a line of credit.
- Assume the sellers short term debts as your down payment.
- Transfer their VISA on to yours.
- Trade your skills and abilities as your down payment.
- Buy wholesale and give to seller as down payment at retail.