I want to buy homes (One to live in ... Others to rent it out) with no down payment?

I have been living in many apartments for 12 years ... With the cost of living here in California made us so impossible to save money. We would like to know if theres a way to buy homes such as 2 - 4 homes on one lot ... I want to live in one of the homes and rent out the rest of the homes on the lot ... Will I be able to do that with no down payment ??





Thanks!I want to buy homes (One to live in ... Others to rent it out) with no down payment?
Lender will give you money for sure. Probably charge you a higher interests rate and extra insurance on the loan for not having the down payment.





Would you consider delaying your plan? Professional investors are careful in choosing each investment that would be near or immediately cash flow positive. With overpriced housing market, that is not possbile.





For example, it costs $500,000 to $550,000 to buy a two bedroom units in Sunnyvale California. Mortgage monthly payment with nothing down is $3500 to $4000 a month with 7% APR. The rent one can collect from such unit would be $2000 a month. Therefore, for each unit you buy, you would lose $1500 a month.





* We assume tax benefits would cancel out with tax and maintenance fee. Please consult your CPA.


**If you have large down payement, the rate may be lowered.





Another important factor to consider, home price may not appreciate as much anymore. In most area of the U.S., housing price stopped going up as inventory continues to build up. It is normal to see a correction as a boom that lasted for several years.





If you are investing new money in to real estate, this may not be a good time as the potential return on investment is small compare to the high risk of lower home price.





If you are doing a side way move, meaning you are selling one to buy another one, then it is acceptable.





Nothing is absolute, but housing market is very likely undergoing a correction and this is only the beginning. Some say this would be a soft landing (0 to 10%). Some say a big crashing is coming (10 to 20%).





http://money.cnn.com/2006/08/24/news/eco鈥?/a>


http://money.cnn.com/2006/08/23/news/eco鈥?/a>I want to buy homes (One to live in ... Others to rent it out) with no down payment?
sounds like a good idea,first have good credit to start, a four plex [duplexes ] might be the answer, contact serveral realtors and see what they have available, and they may know about no down payments, [no down payments are hard to get]
YES! You can buy a home with no money down.





There are many state and government agencies that assist first time home buyers finance a home in California. The main one is www.CalHFA.org





CalHFA offers below market rate financing as well as down payment assistance. Some of the funds you do not have to make payments on.





Many local Cities and Counties have also begun their own assistance programs. The city of San Francisco will assist home buyers with up to $100,000 to buy a home.





These programs are subject to minimum credit requirements and income limits.





By increasing your credit score you can open up many more options than are currently available to you. Sometimes paying down a few credit cards can give you the boost needed to qualify for better financing terms. For more information on credit visit Fair Isaac's site (They created the credit score) www.myFICO.com





~Danke Schoen





Feel free to contact me with any other questions or how to apply.





Nathan


MrDankeSchoen@yahoo.com


888-602-4622 ext 12


925-250-6067
sounds like you have been watching to many get rich quick infommercial late at night, start at the bank and see what you qualify for, they should have other information available for you
I can't recall the proper term (plus I'm in Canada) but there are some deals where the seller is willing to hold the mortgage and you pay them.





See if you can find a recommended (good) realtor in your area, they'd be happy to chat with you about your options. The realtors will WANT to help you, so they get the commission when you do buy! Our realtor took us to over 20 houses and spent countless hours with us, but never made a cent from us directly. (the sellers pay the realtor fees).