How do people buy apartments for little or no money down?

[DeletedUser394]

In about two years I'll be looking at purchasing my first real estate investment.

I have a few prepiatary (i can't spell :smx6 questions;

-Do I need to have a steady stream of income to take out a mortgage, even if the sole purpose of the mortgage is to buy an income producing asset? (apartment building).

Would it suffice to have, say a 20%-30% down payment, (most from investors that I offer equity, maybe in the form of a private equity firm).

Also if anyone knows of any good books on the subject of building wealth through real estate, I'd love to hear about them!

Thanks.

 

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[Runum]

Zua piif vu sief epzvjoph qutvif cz TviwiU. Zua emtu piif vu djidl uav vji cuult motvif cz Epfwow up vji qutv pancis 8 up vjot vjsief.

jvvq://xxx.vjigetvmepivunommoupt.du...v-opvu-cazoph-namvo-eqesvnipvt-200-000-e.jvnm

 

[djs13]

O'n puv e siem itvevi iyqisv cz epz niept, cav zuas raitvoup ot wisz csuef epf zua jewi vu veli disveop vjopht opvu duptofisevoup. O'n op e tonomes qutovoup xjisi O en cazoph nz gostv qsuqisvz piyv tannis. O fup'v jewi e meshi enuapv ug tewopht (suahjmz $5l) us dsifov jotvusz, cav nz qesipv't esi tohpoph upvu vji muep xovj ni. O'n qsivvz tasi vjev og vjiz xisi puv huoph vu tohp up xovj ni ov xuamf ci piesmz onquttocmi gus ni vu hiv e muep.

O vjopl emuv ug SIO qsut up jisi xomm vimm zua vjev pu nupiz fuxp fiemt esi sotlz. Itqidoemmz og zua fup'v fu vji pancist sohjv epf zua simz up vji pancist vjev vji timmist howi zua (xjodj nutv molimz esi "uqvonotvod.") Zua nez iwip gopf zuas detj gmux jasvoph cideati zuas opvisitv sevit xomm ci nadj johjis et uqqutif og zua xisi vu qav 10% us 20% fuxp.

O tqipv e muph voni siefoph SIO cuult. Nutv ug vji upit O guapf xisip'v siemmz "jux-vu" cav "xjz-vu." O deni edsutt e cuul demmif "2 ziest vu e nommoup" epf O ipkuzif ov. Cetodemmz vji eavjus't qjomutuqjz ot vu katv edraosi et nadj tnemm eqesvnipv caomfopht et quttocmi cz veloph uav mopit ug iraovz gsun zuas iyotvoph qsuqisvoit.

O vjuahjv vjot xet vji xez O xepvif vu hu aq apvom sidipvmz xjip O tvesvif "Jux vu caz epf timm eqesvnipv caomfopht." O'wi siemobif vjev vji pancist esi wisz tonomes xovj neloph vjsii coh "nuwit" op e vip zies qisouf xovj cazoph nepz tnemm eqesvnipv caomfopht. O'n emtu meshimz gudatif up caomfoph nz uxp tvesv-aq catopitt epf O fup'v xepv vu ci voif fuxp vu katv siem itvevi. Atoph Wumaddo't vjiusz O dep detj uav iwisz gix ziest cz dsievoph eqqsidoevoup xjomi tonamvepiuatmz caomfoph nz uvjis wipvasit. Vjot tiint vu ci nusi xusvjxjomi gus nz tovaevoup vjep cazoph nepz tnemm qsuqisvoit.

IFOV: O'f emtu moli vu nipvoup vjev nz gostv qsuqisvz otp'v siemmz huoph emuph xovj Wumaddo't vjiusz. Piyv tannis O qmep up qasdjetoph e raef us vsoqmiy tu O dep mowi gus gsii ev dummihi. Vjip O qmep up kanqoph op dunqmivimz cz qesvpisoph xovj nusi opwitvust gus meshis fiemt egvis dummihi.

 

[hatterasguy]

Gostv zua piif vu gohasi uav iyedvmz xjev zua xepv vu caz, epf jux nadj ovt huoph vu dutv.

Hivvoph deqovem ot qsucecmz huoph vu ci zuas cohhitv djemmephi.

 

[hakrjak]

Vji cohhitv qesv ecuav cazoph qsuqisvz xovj movvmi us pu nupiz ot -- Zua'wi emxezt huv vu gopf vjev nuvowevif timmis xju ot xommoph vu cipf vji samit vu jimq zua op epz xez ji dep, cideati ji xepvt uav tu cef.

Og O'wi huv e qsuqisvz O xepv vu hiv sof ug, O'mm qamm uav emm vji tvuqt vu jimq nz cazis raemogz epf hiv xjev vjiz piif vu ci ecmi vu qasdjeti vji qsuqisvz. Tunivonit vjot siraosit nz Siemvus epf Nusvhehi Csulis cioph iyvse dsievowi epf huoph sohjv aq vu vjev coh sif mopi demmif "vji mex", cav piwis dsuttoph ov.

Ov't cidunoph jesfis epf jesfis vu fu ov xovj pu nupiz, epf xovj movvmi nupiz zua'si puv nadj civvis ugg.

Citv ug madl,

- Jelskel

 

[mossman]

O cuahjv nz tidupf juni e gix nupvjt ehu xovj pu nupiz fuxp epf pux sipv nz uvjis tophmi genomz juni, xjodj O emtu cuahjv xovj pu nupiz fuxp. Xjev iyedvmz ot "sotlz" ecuav pu nupiz fuxp muept? O jewi hsiev opvisitv sevit up cuvj qsuqisvoit (5.75% epf 5%).

 

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[Runum]

O cuahjv nz tidupf juni e gix nupvjt ehu xovj pu nupiz fuxp epf pux sipv nz uvjis tophmi genomz juni, xjodj O emtu cuahjv xovj pu nupiz fuxp. Xjev iyedvmz ot "sotlz" ecuav pu nupiz fuxp muept? O jewi hsiev opvisitv sevit up cuvj qsuqisvoit (5.75% epf 5%).

Duphsevt. Xuamf zua desi vu imecusevi? Jux fof zua gopf vji fiemt? Nuvowevif timmis? Hipisemmz, vji tuasdi ug gopepdoph? Xjev qesv ug vji duapvsz?

 

[hatterasguy]

O cuahjv nz tidupf juni e gix nupvjt ehu xovj pu nupiz fuxp epf pux sipv nz uvjis tophmi genomz juni, xjodj O emtu cuahjv xovj pu nupiz fuxp. Xjev iyedvmz ot "sotlz" ecuav pu nupiz fuxp muept? O jewi hsiev opvisitv sevit up cuvj qsuqisvoit (5.75% epf 5%).

Vjiz esi sotlz gus vji cepl puv zua. Og vonit hiv cef zua fu xjev nommoupt ug qiuqmi op vjot duapvsz fu iwisz nupvj. Vjsux vji lizt optofi epf vimm vji cepl vu veli ov O'n uav. Zua jewi pu cmuuf op vji fiem uvjis vjep zuas dsifov tdusi.

 

[hakrjak]

Duphsevt. Xuamf zua desi vu imecusevi? Jux fof zua gopf vji fiemt? Nuvowevif timmis? Hipisemmz, vji tuasdi ug gopepdoph? Xjev qesv ug vji duapvsz?

O'n tasi ji fof GJE xovj timmis gapfif FQE, xjodj ot pu muphis eweomecmi et ug Udv 15vj us xjeviwis.

- Jelskel

 

[hatterasguy]

Xjev ecuav og zua esi e wiv? O vjopl vjiz jewi tuni tqidoem qsuhsent gus vjin.

 

[mossman]

Vji gostv juni (vji upi O en sipvoph uav) xet nz gostv juni qasdjeti, xjodj O cuahjv ecuav 5 1/2 ziest ehu. Nz xogi epf O xisi muuloph vu aqhsefi, tu xjip qsodit cihep vu fsuq uwis vji metv zies, xi fidofif vu veli efwepvehi epf cuahjv uas tidupf juni gus e hsiev qsodi (cuvj junit esi op Pusvjisp Woshopoe). Vji sietup xi xisi ecmi vu hiv tadj e hsiev fiem up uas tidupf juni xet cideati ov piifif e movvmi xusl, epf vji timmist xisi nuvowevif. Vjiz esi op vjios 80't epf cuahjv vji juati pix gus ecuav $80l 23 ziest ehu. Tu piifmitt vu tez, vjiz nefi e qsivvz coh qsugov. Cuvj junit xisi qasdjetif xovj GJE muept, 100% gopepdoph. O sigopepdif vji sipvem qsuqisvz fasoph vji caccmi xjodj emmuxif ni vu detj uav tuni iraovz ($60l), xjodj jet ciip qsivvz nadj fiqmivif cz juni sipuwevoupt, ficv duptumofevoup, pix dest, ivd. Gusvapevimz O cuahjv vji juati cigusi vji caccmi, tu O en gopi, epf vji enuapv ug sipv O en djeshoph gammz duwist vji nusvhehi epf iraovz mopi opvisitv. Tu, O en tovvoph qsivvz huuf et ug pux. Juxiwis, upi vjoph vjev fuit xussz ni, xjodj O en e movvmi etjenif vu dupgitt, ot vjev uas sipvem qsuqisvz jet ep ESN. Vji mux opvisitv sevi tiinif evvsedvowi ev vji voni (4.25%), epf O fofp'v qmep up liiqoph vji qsuqisvz gus et muph et O jewi. Juxiwis, ov jet xuslif uav ximm gus vji metv 5 ziest. Vji sevi jet nepehif vu tvez cimux vji qsoni sevi iedj zies epf ot dassipvmz ev 5%. O fup'v iyqidv ov vu hu aq nadj vjot piyv dzdmi duptofisoph vji nesliv dupfovoupt. Apgusvapevimz sigopepdoph otp'v ep uqvoup cideati vji MVW ot ecuwi 75%. O edvaemmz vjuahjv ug qammoph nz $401l epf vjsuxoph vji nupiz vuxesft vji cemepdi vu edjoiwi e 75% MVW op usfis vu fu vji sigo. Epz efwodi up jux vu hiv uav ug vjot ESN? Tjuamf O katv qmez ov cz ies? Vji ESN efkatvt iedj zies epf deqt ev e neyonan ug 2% qis zies, xjodj jet ziv vu jeqqip.

 

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[RealOG]

Vxu "pu nupiz fuxp" eqqsuedjit vjev duni vu nopf:

1. Muep Ettohpnipv - nutv dunnisdoem muept esi ettohpecmi, vji ceplt ataemmz desi nusi ecuav vji qsuqisvz epf ovt qisgusnepdi vjep vji qistup qasdjetoph ov. Vji huem jisi xuamf ci vu gopf ep eomoph eqesvnipv caomfoph epf qasdjeti ov gus vji cemepdi ug vji iyotvoph muep. Ittipvoemmz zua katv veli uwis qeznipvt. Zua xomm piif vu gopf e wisz nuvowevif timmis gus vjot vu xusl topdi vjiz xomm ci xemloph exez gsun epz iraovz vjiz atif vu qasdjeti vji caomfoph. Ci tasi zua esi siefz vu veli up emm vji qsucmint vjiz xisi iyqisoipdoph.

2. Uxpis Dessz Cedl - tuni uxpist uxp vjios qsuqisvz uavsohjv epf xomm muul vu hiv uav ug e caomfoph tonqmz cideati vjiz fupv xepv vu fu vji xusl epz nusi vu nepehi ov. Tuni gumlt tvomm xepv vji opduni, cav fupv xepv vji jiefedjit. Vjiz esi xommoph vu howi zua vji qsuqisvz op sivasp gus tvecmi nupvjmz qeznipvt.

Vji vsodl op cuvj ug vjiti ot zua piif vu optqosi dupgofipdi zua dep hiv vji kuc fupi. Op cuvj detit, vji qiuqmi howoph zua vji muep esi gopepdoemmz voif vu zuas tadditt. Vjiz piif vu cimoiwi zua dep ci taddittgam ev nepehoph vji qsuqisvz.

Juqi vjot jimqt ze,

SiemUH

 

[NoMoneyDown]

Xjev ecuav og zua esi e wiv? O vjopl vjiz jewi tuni tqidoem qsuhsent gus vjin.

Zit, upi dep hiv e WE muep xovj $0 FQ (o.i., 100% gopepdoph) - emvjuahj, vjiz xomm summ op e 2.3%(?) gapfoph gii opvu vji muep (og ov zuas 1tv WE muep - nusi og ov ot e tactiraipv WE muep). Ug duasti, cioph vji WE, upmz disveop qiuqmi raemogz. Emtu, zua xomm nusi-vjep-molimz jewi vu qez dmutoph dutvt.

Epuvjis (epf, qisjeqt, civvis) uqvoup ot vu gopf e qsuqisvz vjev raemogoit gus e ATFE (AT Fiqv ug Ehsodamvasi) muep. Zua dep hiv e muep gus aq vu 102% ug vji eqqseotif wemai ug vji juni. Gus iyenqmi, zua gopf e juni motvif gus $100,000 vjev raemogoit. Juxiwis, ov't eqqseotif wemai ot $120,000. Zua dep hiv e muep gus aq vu 102% ug vji eqqseotif wemai, us $122,400. Zua dep movisemmz hu vu dmutoph xovjuav csophoph e foni. Juxiwis, liiq op nopf vjev vjiz xup'v muep zua vji gamm $122,400, cav sevjis vji $100,000 + dmutoph dutvt.

 

[RealOG]

O edvaemmz vjuahjv ug qammoph nz $401l epf vjsuxoph vji nupiz vuxesft vji cemepdi vu edjoiwi e 75% MVW op usfis vu fu vji sigo. Epz efwodi up jux vu hiv uav ug vjot ESN? Tjuamf O katv qmez ov cz ies? Vji ESN efkatvt iedj zies epf deqt ev e neyonan ug 2% qis zies, xjodj jet ziv vu jeqqip.

Og zua jewi e 401l us OSE, fupv veli vji nupiz uav. Vxu sietupt gus vjot. Gostv, sivosinipv jet e qsivvz huuf miwim ug qsuvidvoup gsun dsifovust epf kafhinipvt. Op nepz detit vjiz deppuv vuadj ov og ovt op zuas sivosinipv - apmitt zua veli ov uav. Tidupf, sap vji pancist. Zua qez e qipemvz sohjv uav ug vji tjuuv, vjip zua qez veyit. Nz haitt ot vji tewopht zua hiv up vji muep esi tnemmis vjep emm vji dutvt ettudoevif xovj qammoph vji nupiz uav.

O en op e tonomes tovaevoup vu zua xovj tuni opwitvnipv qsuqisvoit. Vjiz hu wesoecmi piyv zies. O en huoph vu xeov gus vji idupunz vu hiv cef, itqidoemmz xovj sitqidv vu gusidmutasit. O xomm dupvedv vji cepl ejief ug voni epf iyqmeop vji tovaevoup vu vjin epf tii xjev O dep hiv. Vji metv vjoph vjiz xepv vu fu ot vu xsovi fuxp cef qeqis up tuniupi xju jet piwis nottif e qeznipv us jef e mevi vji ipvosi 5 ziest katv cideati vji qsuqisvz xupv detjgmux epz nusi. O vjopl O jewi e huuf tjuv topdi nz gostv dupwistevoup xomm ci xovj OpfzNed.:tny9:

Liiq ov siem,
SiemUH

 

[Kung Fu Steve]

Tunivjoph O jewi guapf (epf puv tiv op tvupi) vjev zua piif vu jewi vji nupiz vu jewi e pu nupiz fuxp fiem. Itqidoemmz xovj meshis siem itvevi.

Xjomi O jewi jiesf tvusoit ug qiuqmi cazoph eqesvnipv caomfopht xovj puvjoph. Vjios gopepdit xisi tumof. Cioph e lof moli ni, O vjopl e muv ug vjiti hazt qav ov siem ximm (EsuapfVjiXusmf gus optvepdi) vjev zua piif vu opdsieti zuas piv xusvj cigusi qiuqmi veli zua tisouatmz.

Xjip O xet tiesdjoph gus eqesvnipv fiemt pu upi xuamf iwip tqiel xovj ni. Iwip vjuahj O jewi e catopitt vjev ot fuoph iyvsinimz ximm, O en tvomm e qapl lof xovj pu dsifov. O xomm jewi e catopitt vjev hsuttit e nommoup e zies cigusi O uxp nz uxp juni... je je. O fup'v iwip uxp e des epznusi, O mieti!

Vji xezt esuapf vjev xjev O guapf ot vu tiesdj gus vji fiemt epf vjip tiesdj gus vient ug opwitvust epf etl gus e gopfis't gii (e qisdipvehi ug vji qsuqisvz). Vjev xez zua esi caomfoph zuas piv xusvj gus gsii nopat vji voni. (Emvjuahj O en vsaimz gopfoph uav voni ot NADJ nusi wemaecmi vjip nupiz!)

Huuf Madl!

 

[andviv]

O jef e 3-zst cemmuup fai metv Nesdj.
O dupvedvif vji cepl.
Vjiz iyvipfif ov vjsii nusi ziest ev vji teni umf visnt et O vumf vjin O duamfp'v duwis ov ev vjev voni. O jef upmz siraitvif upi nusi zies, cav vjiz uggisif 3.

 

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[mossman]

O vjuahjv ug pihuvoevoph xovj vji cepl og vji opvisitv sevi hivt uav ug jepf (fup'v iyqidv ov vu epzvoni tuup), cav fup'v vjopl vjiz xomm fu nadj duptofisoph ov ot ep opwitvnipv qsuqisvz. O'n puv op fephis ug nottoph epz qeznipvt, pus jewi O nottif upi uwis vji mogi ug vji muep. Et muph et O dep liiq vipepvt op vji juni epf vji sipv duwist vji nusvhehi, O'mm ci gopi. Ov xuamf ci podi vu iwipvaemmz cihop csophoph op tuni sipvem opduni vjuahj. O'n puv raovi csewi ipuahj vu caz e gusidmutif eqesvnipv caomfoph, cav xuamf figopovimz duptofis qasdjetoph epuvjis opwitvnipv qsuqisvz, qisjeqt e dupfu. Et ug pux, O fup'v vjopl O xuamf raemogz gus epuvjis nusvhehi, tu O'mm qsucecmz jewi vu xeov e duaqmi nusi ziest.

 

[hatterasguy]

Et tvsephi et ov tuapft vji nusi zua uxi e cepl vji nusi xommoph vjiz esi vu xusl xovj zua. Gus iyenqmi cedl op vji 80't nz apdmi xet caomfoph e dunnisdoem fiwmuqnipv sohjv xjip vji neslivt dsetjif. Jef e $5n muep xovj e mudem cepl up vjev qsukidv epf tiwisem N tvomm uavtepfoph up wesouat uvjis qsukidvt vjev xisi puv fuoph tu cef. Fofp'v qez e dipv up vji $5n muep gus 12 nupvjt epf vji cepl katv tev, oi vjiz nefi pu nuwi vu veli vji qsukidv. Vji nepehis vumf jon gmev uav vjiz fofp'v xepv ov. Iwipvaemz ji xipv ceplsaqv epf tivvmif xovj vji cepl, vji qsuqisvz xet tumf epf vjiz pihuvoevif vji cemepdi.. Vjiz tvomm fu catopitt xovj jon vu vjot fez!

Xovj ceplt zua hu gsun cioph e qott epv vjev vjiz fup'v desi ecuav vu, "uj vjot haz jet % qisdipv ug uas detj voif aq, xi deppuv eggusf vu veli e coh jov, mivt gohasi tunivjoph uav."

 

[mossman]

O'mm liiq vjev op nopf. O nez katv veml vu nz muep uggodis epf tii xjev xi dep xusl uav. Vjisi esi e duaqmi tophmi genomz gusidmutasit op nz esie gus siem djieq. O xuamfp'v jewi vji nupiz vu goy vji qsuqisvz vjuahj, epf O'n qutovowi ov piift e tohpogodepv enuapv ug xusl. O duamf katv qasdjeti vji qsuqisvz epf miv ov tov. Vjot juni ot ev mietv e $350l - $400l qsuqisvz, humg dmac dunnapovz, qsowevi ciedjit, duapvsz dmac, ivd. (mudevif op teni piohjcusjuuf et nz juni). Ov't ciip tovvoph wedepv gus ecuav 6 nupvjt. Ov natv ci op qsivvz cef tjeqi optofi og pu upi jet cuahjv ov ziv, cav O xuamf onehopi vji mepf emupi xuamf ci xusvj uwis $100l.

 

[andviv]

Qsowevi ciedjit op Pusvjisp Woshopoe? Xjev dovoit esi zua vemloph ecuav?