Hi there, has anyone read the book called “nothing down”? When I read Steve’s book, I noted that he mentioned the book called “Nothing down”, I read it, and found it is very good. There are some questions I want to discuss with anyone who had read “Nothing down”.
ill teach you a new way, the way, i was showing you last night… but still it is easy to do, but not long to wait only another 3 months before you can buy more with no money down again… or try what we talk last night, mabye you can buy again with no money down… and straight away, instead of waiting…
… but hang on, arent you buying 1 property every 3 weeks on average…or less []
ill teach you a new way, the way, i was showing you last night… but still it is easy to do, but not long to wait only another 3 months before you can buy more with no money down again… or try what we talk last night, mabye you can buy again with no money down… and straight away, instead of waiting…
… but hang on, arent you buying 1 property every 3 weeks on average…or less []
The Dymocks site :
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This is what I saw on the http://www.amazon.com site :
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lol… i dont buy, with no money down, but i do know how to create instant equity and cash, cant spill… but do remember, when you do buy with no money down, it means no money down, but still, some how and some what there is money still there… its a lateral term, Guru and i use…
… cant spill, but think laterally, some how money is still use, but nothing put down…
I aint read the books, but hate to see an intelligent thread getting murdered unnecesarily.
Few ideas-
i) buy with a long term settlement, then market moves up, revalued, easy finance.
ii) 100% vendor finance. If the vendor will lend you the money, you may not need a deposit
iii) 30% vendor finance. Bank lends 70%, vendor 30
iv) buy and renovate during settlement (allowed in contract of course!). Revalue, etc
v) buy an option
vi) deposit bond.
Okay, okay, some of these are not exactly literally “nothing” down, but they are about the best that I could come up with.
ii) 100% vendor finance. If the vendor will lend you the money, you may not need a deposit
iii) 30% vendor finance. Bank lends 70%, vendor 30
Those are really good ideas, wrappack. But re getting vendor finance… presumably that would be suitable for those with no equity (who could use one of the other options), but my question to all is: isn’t it better to either have equity or a deposit? If a bank won’t lend you enough money, then isn’t that some indication that you are in over your head?
What do people think?
Also, re vendor finance, does it appear on your credit rating? And are the people providing the VF able to check your credit history? Wouldn’t this be ruled out by the privacy act?
Another way to do the no money down thing is to go into a joint vewnture- think of the second person you’re in with as providing the deposit for you.