How To Buy Property When You Don’t Have Money
Buying a $400,000 property with just $5,000 money down. It sounds like an instantly dismissible headline on a flyer, but it is achievable if you know what you’re doing.
If you’re a prospective investor, or even a seasoned property buyer, and the concept elicits scepticism, you’re not alone. Most investors never consider ‘no-money-down’ or ‘little-money-down’ deals because they believe they are impossible.
It’s a pause for thought. Since most investors never get beyond one or two investment properties and this remains one of the limiting beliefs they cling to, you have to ask yourself if following what the rest of the crowd is thinking is really a smart thing to do. Maybe the concept deserves another thought?
After all, there could be any number of reasons you could be interested in buying property with limited funds. You could be a low-income earner or buried in day-to-day expenses. You could be earning a decent salary but struggle to save up enough capital to get your investment ventures off the ground. You could even have a poor appetite for risk and simply want to use as little cash as possible. Regardless of what situation you’re in, these deals can work – provided they have two ingredients.
“First, you have to have knowledge. Then you have to have focus,” says property developer Nhan Nguyen.
Read more: https://www.yourinvestmentpropertymag.com.au/buying-property/how-to-buy-property-when-you-dont-have-money-175455.aspx
If you’re a prospective investor, or even a seasoned property buyer, and the concept elicits scepticism, you’re not alone. Most investors never consider ‘no-money-down’ or ‘little-money-down’ deals because they believe they are impossible.
It’s a pause for thought. Since most investors never get beyond one or two investment properties and this remains one of the limiting beliefs they cling to, you have to ask yourself if following what the rest of the crowd is thinking is really a smart thing to do. Maybe the concept deserves another thought?
After all, there could be any number of reasons you could be interested in buying property with limited funds. You could be a low-income earner or buried in day-to-day expenses. You could be earning a decent salary but struggle to save up enough capital to get your investment ventures off the ground. You could even have a poor appetite for risk and simply want to use as little cash as possible. Regardless of what situation you’re in, these deals can work – provided they have two ingredients.
“First, you have to have knowledge. Then you have to have focus,” says property developer Nhan Nguyen.
Read more: https://www.yourinvestmentpropertymag.com.au/buying-property/how-to-buy-property-when-you-dont-have-money-175455.aspx
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