No money down

[Ryan Taylor]

So how many of you have done deals with no money from your own pockets?  And what kind of deal was it? 

Ryan

[Levi T.]

I do no money down deals, and no I did not have some trust fund. I think I had to fund my fist 15-16 deals with about 30% cash. You have to do commercial loans, and your deals need to try and come in below the 60LTV mark. Build a relationship with a few local bankers. Around the time you think you are at a point to ask for no money down, show the banker your deal before you make an offer, then just ask them what type of offer you need to stay under to get 100% financing, then go make the deal. Once you have one deal with that type of financing, don't abuse it, it's privilege not a right. You will probably spend a handful to a dozen more deals doing some combination of no money or some money, and as your equity base grows so will the financing options. There are some hidden gotcha you wont learn about till one catches you. Like growing to fast, number of deals to number of amount borrowed, etc.. I know once I cleared more than 1 million in free quality, and in doing so paid off a building, that was a real defining moment in terms of lending. Lending is fickle, it all comes down to your security, ricks, current markets, interest rate, etc. Good luck,