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Hello Ben,
I’m new here.
I have 2 houses under my name with 30 years mortgage on them. I also co-own a mortgage-free 2 story house with my Dad. I have 9 to 5 job. I have excelent credit.
-> The the house that I live in: 2 story home, rent out the first floor, the rent income just covers all the monthly expenses + debt service.
-> My 2nd house: duplex with monthly cash flow.
-> The mortgage free home: My dad lives there and rent out the second floor. Enough cash flow to cover all the expenses and have some money left (not a lot but possitive inflow).
With above information, my question to you is: Would I be able to buy a 3 or even 4 plex WITH NO MONEY DOWN. What are some of your creative financing ideas would you suggest?
Thank you,
I look forward to hearing from you.Hey, Sokha!
It seems you are doing quite well. To answer your question – I don’t see why not. In the phrase “creative finance” the operative word is “creative”. Thus, the answer to your question is yes, if you are able to be creative. As to how, just set up your financing package so you don’t have a down-payment – simple. Whatever way this is possible, and there are a billion different ways, everything from owner-financing to blankets, substitution of security, etc. I could see all of that as applicable to you.
Thanks for reaching out!
Ben
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