I would like to purchase a home to live in. I am thinking about this in an investment mind set. Live in it for maybe 2-3yrs or, if the right property for longer. My question is, how do I accomplish this with as little out of pocket as possible or, maybe no out of pocket. I am new to REI. I just want to do this the correct way so i either aquire a great house or future profit.
Help Please. :huh
Just wanting to purchase a home is not enough info to help you. You need to decide how many bedrooms/baths and other things that you want. Location is important as to what neighborhood that you want to live in. Once you have these things written down you can start comparing pricing for the neighborhood that you want to live in. Once that you know what your dream house will be valued at then you are ready to start shopping for a foreclosure or a short sale that you can get the house that you want at a steep discount. Go to the library or book store and get a book on creative financing of real estate. Yes you can buy a home for no money of you own down. I bought 6 homes in the last 6 months and all were no money out of my pocket deals. All were bought at less than 50% of market value. All are great homes and I would live in any of them if necessary.
Redhawk