Getting real estate without any money down is not impossible, but it can be challenging. Here are some ways to do it:
- Partner with someone: Find someone who has the money to invest in real estate but lacks the time, expertise, or desire to manage the property. You can offer to find, purchase, and manage the property in exchange for a percentage of the profits.
- Lease with an option to buy: This involves leasing a property with an agreement that you have the option to purchase the property at a later date. This option usually requires a small fee, which is a percentage of the property’s value.
- Seller financing: Some sellers may be willing to finance the purchase of a property. This means that instead of obtaining a traditional mortgage, you make payments to the seller directly.
- House hacking: This involves purchasing a property and renting out a portion of it to help pay the mortgage. For example, you can buy a multi-unit property and live in one unit while renting out the other units.
- Wholesaling: This involves finding a distressed property, getting it under contract, and then assigning the contract to a buyer for a fee. This method requires finding a buyer who is willing to pay more than the contracted price, allowing you to make a profit.
Keep in mind that getting real estate without any money down requires creativity, persistence, and sometimes luck. It’s essential to thoroughly research any option before pursuing it to ensure that it is legal and feasible for your situation.