All Forum Posts by: Fulton Recepcion

I believe what everyone else has said and the other warning I would give you is DO NOT pay any money up front for an application fee or something like that.  Many of these types of lenders, if you can find one will ask you for 100s if not 1000s loan application fee up front.   Then guess what happens to that money?.....it disappears, or you're not approved, or they can't close it because their "investors" aren't funding right now or 100 other excuses.   If you get approved, you can pay the appraisal fee up front..maybe $500-$600 unless something pretty unusual.

@Fulton Recepcion Are you looking for this option because you don’t have the funds to invest? If so, you wouldn’t want to start down that road even if you find a lender who will do this. Bad idea to invest without the funds to carry you thru start up, capex, vacancies, etc.

@Fulton Recepcion Are you looking for this option because you don’t have the funds to invest? If so, you wouldn’t want to start down that road even if you find a lender who will do this. Bad idea to invest without the funds to carry you thru start up, capex, vacancies, etc.

@Fulton Recepcion

Go back to who taught you for the list…

Unfortunately as others mentioned that really does not exist

if they dont require money down.. then you still have to have EM and closing costs IE title escrow points.. and then normally they will also make you front the draws and get reimbursed. AS well as the draws will be rigid in their requirements.. so other than family or friends you need some money to do real estate.

Oh and the no money down lenders that do advertise no money down. generally will only lend 65% or so of their opinion of value and that almost always has you having to bring in some cash to close.

@Fulton Recepcion

Welcome to BP.

Hey @Fulton Recepcion, welcome to the site! Here are some good places to start: http://www.biggerpockets.com/meet- find and connect with other BP members that are in your area.

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Welcome to BP @Fulton Recepcion, great to have you here