How to Buy an Apartment with No Money Down
When you are planning to buy a multi-family property you need to pay a down payment. There are many ways to raise the money towards payment of down payment so that you can buy an apartment with no money down.
Some of them include:
- Getting money from Private Moneylenders: When there is a chance of good returns private money lenders will be happy to give you the amount towards a down payment for buying an Apartment complex
- Money on Equity Share in the property: Private Money lenders will give you the down payment amount if you give them a share in the property and promise to pay a share in the rental collection and a share in the sale proceeds when you sell property
- Borrowing from Hard money lenders who lend you money based on the real value of the Apartment you are buying and not based on your credit score.
- Getting money as Repair allowance when you undertake the repairs to the property by your means and the amount that must be spent by the seller towards impending repairs will be adjusted towards the down payment
- Crowd funding for collecting small amounts from large several investors through a network of investors. In this, you will be requesting funds based on your multifamily purchase and management project and if it is convincing then a large number of investors will invest small amounts and this amount can be used for making down payment.