Buying investment property is a great way to build a portfolio that delivers wealth now and sets you up for a comfortable retirement in the future. But buying property can be expensive if you’re not careful. In this blog post, you’ll learn how to buy an investment property in Roanoke with no down payment.
There are few types of investments better than real estate. Real estate assets appreciate over time, they’re an excellent hedge against market declines, and the cash flow you get from a rental property is a game-changing way to build wealth.
Unfortunately, many investors find that real estate investment properties can be too expensive to purchase, even just saving up a down payment for each property you want to buy can really add up. Fortunately, if you want to know how to buy an investment property in Roanoke with no down payment, there are 3 effective strategies to use.
How To Buy An Investment Property In Roanoke With No Deposit
Strategy #1. Seller Financing
If the seller is willing, they might “be the bank” and offer terms like a mortgage, so you can skip the down payment, have them finance the entire purchase price, and just pay them directly over a period of years until the property is paid off.
Strategy #2. Buy Privately From An Investor
If you have the money available, perhaps in your IRA, but simply do not want to use that money to pay the down payment then you may want to buy privately from an investor. They may not require a down payment if you are able to arrange full payment in a certain amount of time, like re-financing with a regular bank in the near future. At Cross Properties, Inc., we sometimes sell some of our properties this way, or we are connected to other investors who do. So reach out to us at (540) 777-7000 and we’ll see about how we can help you.
Strategy #3. Partner With Another Investor
If you have the capital (income, credit, and savings) available to buy the house but perhaps you don’t want to use your cash for a down payment, then consider partnering with another investor who will put up the down payment for you. Since this is just be a fraction of the purchase price of the investment, you might consider giving them a portion of your ongoing cash flow, or paying them back the loaned amount plus interest.
Do you want to buy an investment property in Roanoke with no down payment?
We work with investors in all kinds of situations. If you’d like to buy an investment property with no down payment, get in touch with us and let’s see if there’s something we can work out.