I have found several distressed apartment buildings on Loopnet. I am wondering if there is a way I can purchase these properties with nothing down. Any help would be greatly appreciated.
With Loopnet understand that the ads are posted by brokers. So what you will need to do is get the address of the APT complex, then contact the county of that city to get the owners MAILING info, then send a letter directly to the owner of the APT owner because most brokers know that doing a owner financed deal will cut them out of the picture…this is also considering that its a cash flowing property. Owner financed deals is one of the only ways to get a true no money down deals.
Understand, No money down means No money comes out of your pocket. It does not mean the seller walks away with no money. If you find a good building and the numbers work, you can use/combine a multitude of financing options such as partial owner financing, private lenders, assuming the existing debt on the property, forming syndication, TIC/partners.
Understand, money is easy to raise if you have a great deal on your hands and your financiers have confidence in you that you know what you’re doing.