No Money of Your Own

[Steve Lohbeck]

I just tried to buy a property with none of my own money. I was talking to a lender and he told me that real estate in California he can get me a loan for 90% and 10% I would have to pay. So I am a newbie so I ask the owner if he was willing to carry the 10% which he said yes. I get back to the lender and he tells me now that rule does not apply to carry back. So I asked him the bottom line is I have to put up some of my own money and he said yes. No one is going to finance you 100%