How to Buy Collingwood Real Estate with no Money Down
If you are an investor looking to get into the Collingwood real estate market, this is your best time to do so. You can get very rich if you plan it right. Many investors jump into something without thinking first and learning the ropes. It is very important to be educated first as an investor before you launch into any type of investing.
Once you have studied the market and you believe you are ready for the world of real estate investing there is one thing you should know before you find an investor to get involved or before you plunge into a contract. There are many types of real estate investments you can get involved with. These investments include foreclosures, tax liens, flips, and more. It depends on your cash flow and what type of investment you are looking to pursue.
But no matter what way you want to invest, the best and smartest way to invest is with no money down. This way you not only dont tie up your own money in the transaction, but you if you do it right, you can end up a very rich man to boot. Now you say, well that is all fine and good, but how do I find no money down deals and how to I go about obtaining these properties with no money down? These are all good questions which will be covered in turn below.
The first thing you should be aware of is looking for deals. Many times it is just a matter of being at the right place at the right time. But more than anything it is keeping your eyes open and your ears attuned so you can hear about any type of deal that may come down the pipe. If you drive down any city block in your area or neighborhood, I bet you can run across many Collingwood homes for sale. Here is where you have the chance to strike a deal. Take down the address and then give us a call — so that an offer can be presented to the seller they cannot refuse. Then, if all goes well, you have yourself a new home.
Finding homes for sale in Collingwood to buy is easy, the next challenge is finding a way to purchase the property without any money out of your pocket. Well, there are ways you can do this. Here are some ways you can obtain the property without putting a dime out of your own pocket.
VA Loans
If you are a veteran, you can purchase that home with no money down by simply going to the government for help. The only drawback to this type of deal, is you can only buy one property at a time. But it is a good start for the new investor, who also happens to be a former military man or woman.
Owner Financing
Owner financing is one area that not too many people know about or are aware of. If you can provide the seller a good deal, you may be able to work out a lease-purchase plan with him or her. You will need to fill out a legal form and have both you and the seller sign it. With this type of arrangement, you can obtain the property with no money down. The only thing about this type of transaction is the seller agrees to sell the house at a price you agree on, at a future date.
In the meantime, you are the buyer will pay a monthly amount to the seller. But this monthly amount can be way more than the average price of rent would be for the property. But if the agreement includes these payments as going toward the sell price of the home, the buyer will luck out because at a predetermined time, the amount the buyer paid monthly is deducted from the selling price, leaving a balance the buyer has to pay.
Trading Properties
Another way to obtain property without any down payment is by trading properties. Simply find a property of equal value and swap it. For example, if you know of someone who has a ten-unit apartment complex for sell and you have a beach front property, or something similar, you may want to swap properties. Even though these type of transactions are rare — the possiblity could be there.
If you need additional tips on buying Real Estate in Collingwood with no money down, do not hesitate to contact one of our Royal LePage agents.
