3 Ways By Which You Can Purchase Property With Little or No Money

Given how things are usually, one might wonder whether there are ways to purchase properties with the need for a downpayment.

Of course, there are ways to go about it. What you do need is a bit of imagination and people’s support as well.

Having said that, here are 3 ways by which you can purchase property with little or no money:

#1: Partners

Using partners’ money is an excellent way to purchase a property that has foreseeable value. Some of these include no loan applications or credit check necessary. Also, you can get better rates, wait for a less amount of time and is rather easier to find. Of course, before you use their money, you’ll have to work out how you divide the profits. Just ensure that everything is in writing.

#2: Owner Financing

This is a quick and easy way to get financing and by which you get the seller to finance the property himself. There are a number of benefits involved with this approach such as no credit check or loan applications necessary. Also, there is no involvement of banks, closing costs or even stress too. That said, this approach can be tougher than most and would only work if you find a motivated seller.

#3: Credit Cards

Another way by which you don’t have to use your money to buy a property is to use credit cards that you might possess. This really helps since there comes a point when making a quick decision on real estate deals becomes the norm. For this, ensure you apply for a number of credit cards that can help you make these decisions quickly. Make sure that you use all of them regularly but pay off the balance as soon as possible. At the worst, keep the balances under 30% as far as possible.