Buying with no money

[Misha Gutzler]

I hear all the successful Investor's say that you can purchase real estate if you have no money.  Although this may be true, it is still very difficult to do.  Even if you're using a hard money lender.

The requirements are what kills you.  Such as some need an appraisal before they will agree to give you money.  Well if someone has no money, they can't afford the appraisal.

You find properties under $50k, they won't finance it because $50k is their minimum loan amount.

If you're married, live in a marital state and your spouse doesn't want to get involved, hard money lenders will not lend because both have to sign papers.  What if you're married but separated or some other marital issue that puts partners on opposite sides?  

These are just some issues that need to be addressed because there are Investor's that come across so many great deals and have put a lot of work into trying to get their businesses started and run into roadblocks such as theses.

Whatever happened to lending based upon the property and cash flow? We know the banks are slow to lend and have crazy rules but isn't the reason for hard money lenders is to make a profit by charging more?