I am a new investor. I am kind of intimidated by the whole deal but I am able to at least look at properties and try to bargain with owners. My problem is that I really don’t believe that there are people willing to finance any home (that of any value) with out a large down payment to which I dont have. Can anyone advise? Or should I wait until I have some real money to invest?
Welcome!
My problem is that I really don't believe that there are people willing to finance any home (that of any value) with out a large down payment to which I dont have.
It depends on your personal scenario/parameters. (i.e. credit score, documentation type, property type, etc)
There are a variety of 100% CLTV financing options available. So even if you do not have all of the money or your credit scenario is a little less than perfect…you may be able to negotiate some seller concessions, seller carrybacks, etc.
You should contact a Broker/Lender to see where you stand. This will give you a foundation from which to plan from.