Rental Properties $0 Down?

[Dexter Stewart]

Hi there BP, I am a newbie, no question but I am really interested in REI and I know what my goal is, which is to have at least 10 SFRs by the time I'm 30 (I'm 20 right now).

My question is, I know that bank's typically asked for 20% as a down payment, but if I am purchasing the property at 70%-80% then couldn't I get it completely financed? I am looking to pick up properties that can bring in $200-$300 positive cash flow, I do not have the cash for a down-payment, but I do have enough to paint, carpet, etc. 

Also what is the best way to find "deals" in my backyard right now there are tons of houses getting flipped and though I am not interested in flipping I definitely want to start building my portfolio. I tried looking for deals through probate, spent almost a year, but being in South Florida most of these are apartments and 9/10 already had realtors in place or were looking for straight cash. 

Looking for any advice from the BP community. Thanks in advance.

Best Regards,

Dexter 

[Stephen Hundley]

@Dexter Stewart you are definitely on the right track! I had the same goals as you and I'm on property 6 at age 28. It's doable man. You will probably have to go the private money or hard money route. Your deal will need to have tons of meat on the bone. Average deals won't work. Start driving for dollars. Show potential lenders your plan. You will get tons of "no's" but don't let that stop you