OfflineOne of the things discussed in the book is getting started on your first deal without using any of your own money. Recently I was trying to look into buying and investment property in Hawaii where I currently live. Every mortgage lender i talked to made it clear to me that the only way i could get 100% financing was by using my VA benefit...which i can't use for an investment property that is not going to be my primary residence. The consensus from multiple lenders is that you have to put at least 20% down for an investment property mortgage. Since I don't have that nest egg to use to get started, i'm trying to figure out another way. Am I just looking in the wrong place for financing?
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There different ways to get 100% financing
one is lease with option
two is ownerfinancing
also you could use a hard money lender
most of the time youre going to have to work with more than one source to complete 100% financing
also talk to small community banks and credit unions