Hey room,
My wife and I are going to be moving to Texas in the next few months to buy one of those nice, HUGE, incredibly Cheap homes. (We’re from California)
My questions are: We are beginning investors and know the game since we both do real estate in Cali. What are the investment guidelines for Texas as far as LTV, etc? What the reality is of buying investments with No Money Down?
Thank you all soo much!!!
Kenny
For the most part you’re only limited by your imagination, on creating the deals. For Investment or N/O/O mortgages, you can find 100% LTV loans, but for the most part it’s going to be a 90% LTV loan.
I do contract for deeds, which can create a no money down situation, and allows the seller to get away from making the payments, but in the state of Texas you can only do a Contract for Deed for N/O/O, investment property only. You’re not allowed to reside in the residence. You’d need to do a lease purchase in that situation.
But there are many members located here in Texas who can also shed more light on the subject.
Good Luck!